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taxbrewster

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  1. Thank you for the insight. It is looking like it was a payroll mistake - home office never changed client's address just work location and of course he did not notice.
  2. I hope everyone is well and staying safe during these interesting times. I am wrapping up one of my final returns and just need to talk this one out. Client started year in MI living / working for Company A. 2/21/19 Moved to NJ - all work done in NY for Company A. 12/30/19 Moved back to MI still working for Company A On the w2 has wages of 469,586 - MI wages 469,586 - MI withholding 18,983 & NY wages 469586 - NY withholding 24,026 Am I correct that we would file a PY MI return for the prorated wages in MI (64,333) - then Resident NJ claim tax paid to both MI/NY - then NY non res for prorated NY wages (405253)? But doing this it creates a large refund of the MI withholding, which throws up internal red flag / basically break even in NJ / owes some extra to NY. It just seems odd that he continued to pay MI withholding during the entire year. Could this be a payroll error? Or am I just completely missing the boat. Fun twist as well - client sold 2 primary residences in the same year which both for losses but dont think I have had that happen before. Thank you.
  3. Verifyle meets those standards from what I am reading... https://verifyle.com/compliance.html
  4. I believe it is just a system generated signature - as they type their name into the field and it produces an automatic standard signature. https://www.youtube.com/watch?v=TXQl9w-m2BA This video helps a little bit, but it also shows a different version than what I was looking at yesterday.
  5. I have been messing around with Verifyle and seems to have everything I am looking for. Paying a little extra for the signature feature is not horrible. I would think my clients would have a fairly easy time using it. I have been searching for a simple one stop solution. I am a MAX user so integration options seem to be only iFIRM and I have not heard great things. Thanks for the info on CCH eSign / FileShare. I have used firefox alot, but having more and more requests for e signing...
  6. Business clients of mine and now coming to me to handle personal returns. Other accountant left town. Father dies in 2017, not many assets, 3 sons - filed final return, every thing disbursed no estate return filed. Later find out there are Series HH/H bonds, Son #1 finally get them released and redeemed as the fathers personal rep. Received 1099 this year in father's SS#. for 85K of accrued interest - they just want to split between the 3 of them. Wondering how to report on the Sch B and if this is possible or do we / can we need to reopen years? Or can Son #1 nominee the interest to son #2 and son #3. Not sure we even have access to old returns, sons just want to split the interest 3 ways - pay the tax - call it a day I have researched the threads in this forum as well as others but don't have a clear answer. Any one dealt with this before? Thank you in advance.
  7. yes - sorry pension plan - I figured it out - needed more info. Thanks.
  8. I have a lawyer (over 50) made a large amount of money. Per the k1, he made contributions to the firms 401k of 60K. 54K and 6K catch up - while working on the worksheet for Line 28 - why can I not get the software to accept the catch up contributions. Those should be deductible as well correct, not just the 54K?? Thanks as always...the board is a life saver.
  9. after the 4th call today and rehanging several efiles both on my side and atx's side. doing the same thing over and over again - i just clicked receive acks - and it started to rain ACKS!!! I feel so much better and basically they had no explanation what was fixed or why it just started working....thanks for the input.
  10. Yep, that actually was the first thing I did, nothing....What worries me is it seems to still be an issue even for returns that I filed today..
  11. Hello all, need some step by step help here because tech support has not been helpful. I can read off the website and thats all they do when I call with this problem. I have researched the forums and tried multiple ways. The status is not updating in my ATX software - have a bunch of returns in the "transmitted to efc" status - I have received the ack but it is not updating the individual files so show accepted. I tried rehanging the files via the atx website because it shows accepted but I would like my software to match. They say the resolution is to - duplicate the return - open the duplicated copy - discard the EF info sheet then add it back in - enter the required fields.... Then go to the efile manager and click receive acks. I do this and nothing happens - am I suppose to recreate the file or what other steps am I missing....am I trying to change the submission ID? I dont get what I am trying to trick the software in thinking? Then do I need to rehang these files again to get them to update? I am losing my mind because its these little things that bother me. Any help will be greatly appreciated.
  12. Thanks for the comments, agreed, I have red flags going up everywhere as well. My first thought as well was it should be issued as a K1...In the latest development the company said they had "flexibility to report the income on a 1099 of his choice" My answer was say have a nice day and walk away...
  13. Looking for some help here. I have a client who is looking at a syndicated real estate investment and is being told the following - just trying to make sense of it. It is somewhat new to me. Investment $50K / Minimum ROI over 2 years is 25% / Hopeful return of $12,500 They would report the income and return on investment on a 1099-Misc Box 3 - stating that it would only be taxed at 15%. Resulting in a tax liability of $1875. How is this being treated as capital gains and not ordinary income (35% tax bracket)? Then how would this be reported in ATX because everything I run has it getting hit at his normal rate not a capital gain rate. I have read so much tonight on the subject I think I am confusing myself. Any suggestions would be helpful. Thanks!
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